U.S. Hotel Performance Data - January 2008

Smith Travel Research

Operating Performance - January
	Occupancy Percent			Average Room Rate			RevPAR			Revenue	Supply	Demand
Segment	2008	2007	% Chg	2008	2007	% Chg	2008	2007	% Chg	% Chg	% Chg	% Chg
San Francisco/San Mateo, CA	62.0	58.9	5.3	148.35	140.74	5.4	91.96	82.84	11.0	11.8	0.7	6.1
Chicago, IL	47.2	48.9	-3.5	106.23	103.48	2.7	50.14	50.62	-0.9	1.2	2.2	-1.4
Los Angeles-Long Beach, CA	67.8	68.8	-1.5	129.27	119.93	7.8	87.62	82.53	6.2	7.1	0.8	-0.7
Atlanta, GA	58.2	59.8	-2.7	96.55	90.49	6.7	56.18	54.11	3.8	4.3	0.4	-2.3
Boston, MA	48.6	46.5	4.5	130.06	122.37	6.3	63.18	56.86	11.1	12.4	1.2	5.8
New York, NY	71.4	69.6	2.6	228.67	210.49	8.6	163.34	146.49	11.5	14.3	2.5	5.2

	Operating Performance - January - 12 Month
	Occupancy Percent			Average Room Rate			RevPAR			Revenue	Supply	Demand
Segment	2008	2007	% Chg	2008	2007	% Chg	2008	2007	% Chg	% Chg	% Chg	% Chg
San Francisco/San Mateo, CA	75.5	73.0	3.4	149.11	139.31	7.0	112.54	101.63	10.7	11.0	0.2	3.7
Chicago, IL	67.5	67.5	0.0	129.59	123.21	5.2	87.42	83.22	5.0	5.7	0.6	0.5
Los Angeles-Long Beach, CA	75.1	75.0	0.1	123.32	114.69	7.5	92.55	85.99	7.6	7.4	-0.2	-0.1
Atlanta, GA	63.1	64.1	-1.6	90.44	86.41	4.7	57.04	55.35	3.1	2.5	-0.6	-2.1
Boston, MA	68.6	66.9	2.5	151.87	141.70	7.2	104.20	94.81	9.9	11.4	1.4	4.0
New York, NY	83.8	82.4	1.7	270.76	242.43	11.7	226.89	199.79	13.6	16.7	2.8	4.5

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